Intraday Buy Call For Alok Industries
Technical analyst Rakesh Bansal of New Age Wealth has maintained 'buy' rating on Alok Industries Limited with an intraday target of Rs 30.
According to analyst, the investors can buy the stock with a stop loss of Rs 25.
The stock of the company, on December 30, closed at Rs 26.30 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 35 and a low of Rs 18 on BSE.
Current EPS & P/E ratio stood at 3.55 and 7.69 respectively.
Mr. Dilip Jiwrajka, MD of Alok Industries, stated that within a period of one year, the company will be free of all its realty assets and on the brink of inking few agreements.
E also said that the company has around 700-800 acres of land to be sold.
For the three month period ended September 30, 2010, the company has recorded an increase of 40% in its net profit, which stood at Rs 798.00 million.
The company had a net profit of Rs 570.00 million during the same period of 2009.
Company's net sales for July-September quarter grew by 48.90% to Rs 14,515.00 million.
The total income of the company for the said period increased 48.88% to Rs 14,526.80 million as compared to the same period of 2009.
The company registered an EPS of Rs 1.01 in the quarter, recording 28.37% fall over prior year period.